The Indian automobile industry is going through a rough patch. And the crisis seems to run deep. Get the real picture of the state of affairs through this video. Watch it

Automobile industry stuck in a low gear

Reliance Retail Venture Ltd (RRVL) -- the retail arm of billionaire Mukesh Ambani-led Reliance Industries -- reported an 8.75 per cent increase in gross revenue to Rs 90,333 crore while its profit after tax (PAT) rose 10 per cent to Rs 3,458 crore for the December quarter, helped by pick-up in festive demand.
The company had reported a gross income of Rs 83,063 crore and PAT of Rs 3,145 crore in the year-ago period, Reliance Industries Ltd said in a regulatory filing (RIL).
Reliance Retail's revenue from operation during the quarter was up 7 per cent to Rs 79,595 crore from Rs 74,373 crore a year ago.
Moreover, digital commerce and new commerce contributed to 18 per cent of the total revenue of Reliance Retail as it continued to scale these new-age channels.
The pre-tax profit (EBITDA) of the country's leading retailer was also up 9.45 per cent in the December quarter at Rs 6,828 crore.
The "growth driven by several productivity improvement initiatives and increased customer ...

Reliance Retail's revenue from operation during the quarter was up 7 per cent to Rs 79,595 crore from Rs 74,373 crore a year ago

Investment proposals worth Rs 32,520 crore received at RIC Shahdol, over 30,000 jobs expected to be created

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Taiwan took another step in enhancing its key role in the production of advanced semiconductor chips used for artificial intelligence on Thursday with the inauguration of a new plant by Siliconware Precision Industries Co.
The opening ceremony for the Tan-Ke factory in the central city of Taichung was attended by Jensen Huang, CEO and co-founder of California-based Nvidia Corp, a world leader in the design of AI chips, reinforcing the companies' partnership in the production of advanced AI chips.
SPIL is a leader in semiconductor packaging and testing.
The technology that we're working on is becoming more sophisticated. Chips are getting more and more complex, and the packaging technology will need to evolve as well. What's even more exciting is the integration of silicon photonics, enabling us to connect multiple packages into one massive system, Huang said.
He said Nvidia's partnership with SPIL would be instrumental in pushing the boundaries of innovation in coming years.
Huang

The opening ceremony for the Tan-Ke factory in the central city of Taichung was attended by Jensen Huang, CEO and co-founder of California-based Nvidia Corp

The Enforcement Directorate Thursday said it has attached an under-construction luxury hotel in Colombo's prime area and some other assets worth more than Rs 200 crore as part of a money laundering probe linked to a Gurugram-based realty company which is alleged to have duped homebuyers.
The company named Krrish Realtech Private Limited is promoted by businessman Amit Katyal, who is believed to be a close associate of the family of RJD chief Lalu Prasad.
Katyal was arrested by the central agency in 2023 in a separate money laundering case related to the railways alleged land-for-jobs scam involving Prasad and his family.
The ED said in a statement that it has issued an order to provisionally attach an under-construction luxury hotel and leasehold rights over 4 acres of land in the "Colombo 1" area of Sri Lanka apart from land rights for about 2.82 acres of Vicinity Hotels Pvt. Ltd., in the name of Good Earth Business Park Pvt. Ltd. located at Sector-66 in Gurugram.
The money ...

The ED said in a statement that it has issued an order to provisionally attach an under-construction luxury hotel and leasehold rights over 4 acres of land in the "Colombo 1" area of Sri Lanka

As many as 90,000 salaried individuals, both from PSUs and the private sector, have withdrawn wrongful tax deductions claims totalling Rs 1,070 crore as of December 31, 2024, government sources said on Thursday.
During various search & seizure and survey operations conducted by Income Tax Department, it has come to notice that various individuals are claiming incorrect deductions, under sections 80C, 80D, 80E, 80G, 80GGB, 80GGC, in their ITRs, leading to reduction of tax payable to the government.
During investigation, it was revealed that such individuals are employees of organisations operating in diverse fields including PSUs, big corporations, MNCs, LLPs, Private Ltd Companies, etc, sources said. Also, most of them who claimed wrongful deductions were working in the same company.
Analysis of the information with the department showed that there is a vast mismatch between total deductions under section 80GGB/80GGC claimed by taxpayers in their ITRs as against the total receipts

In order to intensify the efforts of the department of promoting voluntary tax compliance and reducing litigation, outreach programme with employers is being launched

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Automobile industry stuck in a low gear

The Indian automobile industry is going through a rough patch. And the crisis seems to run deep. Get the real picture of the state of affairs through this video. Watch it

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